Deutsche Bank AG has made an announcement that it will invest in Traxpay GmbH, a Frankfurt-based fintech firm. Both companies signed the agreements on 25th of July.
Through this investment with Traxpay, Deutsche Bank will be using the technology of the fintech platform in order to expand its own supply chain finance offering. Traxpay itself offers reverse factoring and dynamic discount solutions to their corporate clients, which allows them to hold flexible management on their cashflow. Traxpay, based in Frankfurt, has strived to be a leader in Europe’s fintech. Having Deutsche Bank join as an investor stands as part of its goal to achieve this.
With this, other banks are further urged to join as both cooperating partners and investors, all in a bid to expand the platform as a whole. Traxpay has made it clear that its existing cooperations with other banks will be maintained, as well.
